Slaughter and May advised UK Asset Resolution - sale of NRAM plc

Slaughter and May advised UK Asset Resolution Limited (UKAR) on the sale of NRAM plc to Cerberus in connection with the sale of a portfolio of residential mortgages and unsecured loans from the legacy book of NRAM, part of the former Northern Rock mortgage business, which completed in December 2015. In addition to the share sale, the advice also concerned arrangements relating to the prior transfer of assets and liabilities not included in the sale to Cerberus to a newly established subsidiary of UKAR - NRAM (No. 1) Limited.